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BFS supports £1m eco-build with latest bridging finance deal

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  • 26/09/2019
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BFS supports £1m eco-build with latest bridging finance deal
Bridging Finance Solutions (BFS) has supported a Norfolk-based eco build with its latest bridging finance deal.

The new build located in East Harling has gained national televised coverage due to its green credentials and is being project managed by a working mum of three, alongside her builder husband.

The client and her husband began work at the half acre site three and a half years ago.

A two-storey build, the property will be built to passive house standards, requiring virtually zero energy to operate once complete and is set to be featured on Channel 4’s ‘Building the Dream’.

Extending to approximately 315 metres square, BFS has lent the client £180,000 in total, part of which will be used to complete the build and the remainder to pay off debts accumulated during construction.

The client chose to work with a bridging lender after a deal with another lender fell through despite funds being guaranteed and three months of negotiations.

Becky Darlington, business development manager at BFS, said: “This is a fantastic and aspirational build and the figures undoubtedly stack up, therefore it’s a project we’re very happy to support. Upon completion we anticipate the property to be valued at £1m with the loan repaid in full ideally within six months.”

Currently, the owners are living in a caravan on site with their young children, dogs and cats. The mother works nights as a carer, home-schooling the children during the day while also managing an online business.

Darlington added: “There is a fantastic story behind this deal and we’re delighted to be able to throw our weight behind these clients and look forward to working with them as the build progresses.”

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